Summer Economic Statement, capital commitment welcome but long-term planning required

Summer Economic Statement, capital commitment welcome but long-term planning required

21 June 2016 at 04:13

Engineers Ireland has welcomed the extra capital expenditure commitment as outlined in the Government’s Summer Economic Statement issued today:

Caroline Spillane, Director General, Engineers Ireland said:  “We welcome the commitment by Government to increase the level of state-backed capital investment over the lifetime of the Capital Plan.   
“Our membership which represents the full spectrum of the engineering profession in Ireland, has been concerned about under-funding of capital development projects given Ireland’s current and future demographics, and has been advocating for this increased investment.  It’s of paramount importance that the country has the necessary capital infrastructure to meet economic demand in the coming years, as well as a skilled labour force ready to create and fill the jobs of the future.”

Ms Spillane added: “Our members have also been urging for more strategic thinking about the long-term needs of the country.   Planning and delivery of our infrastructure is spread across Government departments, each competing for finite funding with little central oversight.   Engineers Ireland believes that an independent assessment of our long-term infrastructure needs is required, together with the establishment of a single infrastructure unit, charged with sustainably planning and integrating investment in key critical areas like transport, education, health, energy and the digital economy.”

The Government’s Summer Economic Statement includes an extra €1 billion in capital spend on top of the additional €4 billion contained in the Programme for a Partnership Government.